| 1 |
Which of the following parties of a letter of credit is called beneficiary |
- A. Importer
- B. Exporter
- C. Opening bank
- D. Advising bank
|
| 2 |
Which of the following is an order of payment by one post office for another post office |
- A. Postal order
- B. Money order
- C. Both a and b
- D. None of these
|
| 3 |
Which one can be crossed : |
- A. Money order
- B. Postal order
- C. Credit card
- D. All of the above
|
| 4 |
I Owe You is a written instrument drawn by |
- A. Trader
- B. Debtor
- C. Creditor
- D. All the above
|
| 5 |
IOU is a document |
- A. Negotiable
- B. Non-negotiable
- C. Conditional negotiable
- D. Unconditional negotiable
|
| 6 |
Commercial letter of credit is issued for the facilty of: |
- A. Ambassadors
- B. Common people
- C. Businessmen
- D. Alll of the above
|
| 7 |
If the exporter is not the receiver (beneficiary) of money then a letter of credit is called: |
- A. Resolving
- B. Back to Back
- C. Transferable
- D. None of the above
|
| 8 |
Which of the following is a non-commercial letter of credit |
- A. Irrevocable letter of credit
- B. Red-clause letter of credit
- C. Special letter of credit
- D. Traveller's letter of credit
|
| 9 |
What does IOU mean |
- A. I am a debtor to you
- B. I am a creditor to you
- C. Both a and b
- D. None of these
|
| 10 |
Which type of letter of credit authorized the exporter to obtain an advance before the shipment of goods |
- A. Documentary letter of credit
- B. Green-clause letter of credit
- C. Confirmed letter of credit
- D. Red-clause letter of credit
|
